Canopy Growth (TSE:WEED) Shares Up 9%

Shares of Canopy Growth Corp (TSE:WEEDGet Free Report) shot up 9% on Tuesday . The stock traded as high as C$11.30 and last traded at C$11.12. 681,757 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 2,173,689 shares. The stock had previously closed at C$10.20.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WEED. Sanford C. Bernstein increased their target price on Canopy Growth from C$1.49 to C$6.70 in a research note on Tuesday, January 30th. Bank of America cut their target price on Canopy Growth from C$7.00 to C$4.00 in a research note on Wednesday, February 14th. Finally, Jefferies Financial Group cut their target price on Canopy Growth from C$7.28 to C$4.90 and set a “hold” rating on the stock in a research note on Tuesday, February 27th.

Read Our Latest Stock Report on WEED

Canopy Growth Price Performance

The company has a debt-to-equity ratio of 127.28, a current ratio of 1.79 and a quick ratio of 2.32. The firm has a 50-day moving average of C$5.82 and a 200-day moving average of C$3.53. The stock has a market cap of C$1.00 billion, a PE ratio of -0.53, a PEG ratio of -0.01 and a beta of 1.63.

Canopy Growth Company Profile

(Get Free Report)

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names.

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